Major European markets opened higher on Thursday as investors await the latest round of interest rate decisions in the area. The moves will come just after the US Federal Reserve decided to keep interest rates between 5.25% and 5.50%.
Minutes after the opening, the CAC 40 and the German DAX rose above their all-time highs on market participants' expectations of further interest rate cuts next year. As for the Euro Stoxx 50, it reached its highest level since May 2001.
At 9:01 am CET, the French benchmark CAC 40 added 1.37%, while Unibail-Rodamco improved by 6.24%. The FTSE 100 rose 1.22% as Ocado increased by 8.23%. One minute later, the pan-European Euro Stoxx 50 improved by 0.95%, and Kering was leading the gains, rising by 4.11%. Finally, the German DAX rose 1.06% at 9:04 am CET, with Vonovia being the best performer at the open, up 7.64%.
The euro was flat against the dollar at 8:58 am CET, selling for $1.08812. In comparison, the pound was down by 0.06% to go for $1.26211 simultaneously.
